Dfyn: The bolt strikes again!
Following a period of self-reflection and tech due diligence, the 2022 roadmap is finally set to be unveiled with the launch of Dfyn v2.
Dfyn has come a long way. From being the first AMM on Polygon to one of the largest DEXes by volume soon after. The exchange has since hit multiple milestones.
- Reached a peak TVL of $300 million
- Introduced vDFYN vaults for the community to get fee-sharing from the protocol
- Processed over $3 billion in trades
- Launched on multiple chains including Polygon, Fantom, and Arbitrum
- Burnt 20% of the total supply to support tokenomics and prolonged the vesting schedules of team and investors
Dfyn was launched when liquidity mining was at its peak. We have since realized that giving high liquidity mining rewards is not the answer to the problem and is myopic at best.
We have a few architectural and structural changes on the cards that will make the protocol self-sustainable and competitive — a feat that few have dreamt of and even fewer have achieved.
In this quarter, we plan to enhance the usability of the Dfyn exchange and integrate Router Protocol’s Crosstalk library to add cross-chain support to the Dfyn Exchange.
1) Enhanced UI: The farms will have an upgraded UI which will make it easier for liquidity providers to track their current farms where they have provided the liquidity or where previous rewards are pending. Dfyn will include a real-time graph to track the price movements of the pair being traded. Overall, we will provide a cleaner and more intuitive UI that’s easy to navigate for a new user.
2) Going Cross-chain: Dfyn will become truly chain-agnostic by integrating Router Protocol’s Crosstalk library. Dfyn will allow users to execute cross-chain swaps and same-chain swaps from a single screen. The vision of Dfyn was to become a cross-chain DEX and that will finally happen with this update.
The Q3 of 2022 will witness the launch of Dfyn v2 — the largest upgrade to Dfyn since its inception. This update will add concentrated liquidity support to increase capital efficiency for the liquidity providers and better prices for traders.
The idea is to extend the current AMM model to let the liquidity inside the AMM earn yield.
Dfyn v2 will also add :
- New Yearn-type mining strategies for the liquidity providers to earn an extra yield on the liquidity provided. The liquidity in Dfyn will get a dual-use case — apart from being AMM liquidity, it can also earn yields while not being used for swapping.
- An extensible fee framework: Pool creators will have the option to deploy their pools under different fee tiers.
- On-chain limit orders which will be truly on-chain.
- An advanced module for smart order routing to ensure the most optimal price for users’ trades.
We cannot be more excited about the future of Dfyn and hope to have the Dfyn community’s continued support.
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network and Fantom. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Discord : https://discord.gg/yjM2fUUHvN
Telegram Announcements: https://t.me/dfynofficial